San Jose, CA--October 22, 1996--OnTrak Systems Inc. (San Jose, CA) announced its financial results for the first quarter of fiscal year 1997.
For the first fiscal quarter ended September 30, 1996, revenues increased 57 percent to $16.5 million, compared to $10.5 million for the first quarter of fiscal 1996. Net income increased 24 percent to $1.1 million ($0.14 per share), compared to the $0.9 million ($0.11 per share) posted during the first quarter of fiscal 1996. Gross profit of $8.6 million increased 57 percent, compared to the $5.5 million posted during the first quarter of fiscal 1996.
OnTrak reported that new orders exceeded shipments during the quarter. Geographically, 61 percent of quarterly revenues stemmed from the U.S., 21 percent from Europe, and the remaining 18 percent from the Pacific Rim.
1010 Rincon Cir.
San Jose, CA 95131
Fax: (408) 952-5441
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